{
  "commentary": "## 大株主の構成\n\n大株主データは下表のとおり。\n\n\n\n## 所有者別構成\n\n所有者別構成（金融機関・外国法人・個人ほか）の推移は下表のとおり。",
  "shareholders": [
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 1,
      "name": "有限会社キー・ウェストネットワーク",
      "shareholding_ratio": 25.08,
      "shares_held": 11952000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 14.95,
      "shares_held": 7123000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 3,
      "name": "フューチャー株式会社",
      "shareholding_ratio": 6.21,
      "shares_held": 2958000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 4,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.2,
      "shares_held": 2000000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 5,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 2.79,
      "shares_held": 1327000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 6,
      "name": "NORTHERN TRUST CO. (AVFC) RE-HCR00 （常任代理人 香港上海銀行東京支店カストディ業務部）",
      "shareholding_ratio": 2.32,
      "shares_held": 1103000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 7,
      "name": "有限会社クロスシティ",
      "shareholding_ratio": 2.01,
      "shares_held": 957000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 8,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 1.72,
      "shares_held": 818000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 9,
      "name": "BBH FOR GRANDEUR PEAK INTERNATIONAL OPPORTUNITIES FUND （常任代理人 株式会社三菱東京UFJ銀行）",
      "shareholding_ratio": 1.51,
      "shares_held": 721000
    },
    {
      "FY": "FY16",
      "period": "2016/12",
      "rank": 10,
      "name": "日本トラスティ・サービス信託銀行株式会社（信託口）",
      "shareholding_ratio": 1.43,
      "shares_held": 683000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 31.66,
      "shares_held": 15093000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 11.66,
      "shares_held": 5558000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 3,
      "name": "フューチャー株式会社",
      "shareholding_ratio": 6.2,
      "shares_held": 2958000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 4,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.19,
      "shares_held": 2000000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 5,
      "name": "NORTHERN TRUST CO. (AVFC) RE HCR00 （常任代理人 香港上海銀行東京支店カストディ業務部）",
      "shareholding_ratio": 3.4,
      "shares_held": 1624000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 6,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 2.98,
      "shares_held": 1420000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 7,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 2.14,
      "shares_held": 1024000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 8,
      "name": "GOVERNMENT OF NORWAY （常任代理人 シティバンク、エヌ・エイ東京支店）",
      "shareholding_ratio": 1.98,
      "shares_held": 948000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 9,
      "name": "日本トラスティ・サービス信託銀行株式会社（信託口）",
      "shareholding_ratio": 1.94,
      "shares_held": 926000
    },
    {
      "FY": "FY17",
      "period": "2017/12",
      "rank": 10,
      "name": "石橋 国人",
      "shareholding_ratio": 1.29,
      "shares_held": 618000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 33.76,
      "shares_held": 15093000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.43,
      "shares_held": 5558000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 3,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.47,
      "shares_held": 2000000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 4,
      "name": "日本トラスティ・サービス信託銀行株式会社（信託口）",
      "shareholding_ratio": 3.54,
      "shares_held": 1582000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 5,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 3.15,
      "shares_held": 1412000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 6,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 2.75,
      "shares_held": 1233000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 7,
      "name": "NORTHERN TRUST CO. (AVFC) RE HCR00 （常任代理人 香港上海銀行東京支店カストディ業務部）",
      "shareholding_ratio": 2.15,
      "shares_held": 961000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 8,
      "name": "GOVERNMENT OF NORWAY （常任代理人 シティバンク、エヌ・エイ東京支店）",
      "shareholding_ratio": 2.05,
      "shares_held": 918000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 9,
      "name": "BBH FOR FIDELITY PURITAN TR:FIDELITY SR INTRINSIC OPPORTUNITIES FUND (常任代理人 株式会社三菱UFJ銀行 決済事業部）",
      "shareholding_ratio": 1.65,
      "shares_held": 739000
    },
    {
      "FY": "FY18",
      "period": "2018/12",
      "rank": 10,
      "name": "石橋 国人",
      "shareholding_ratio": 1.38,
      "shares_held": 618000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 33.75,
      "shares_held": 15093000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.43,
      "shares_held": 5558000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 3,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.47,
      "shares_held": 2000000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 4,
      "name": "日本トラスティ・サービス信託銀行株式会社（信託口）",
      "shareholding_ratio": 3.51,
      "shares_held": 1573000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 5,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 3.15,
      "shares_held": 1412000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 6,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 2.89,
      "shares_held": 1296000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 7,
      "name": "GOVERNMENT OF NORWAY （常任代理人 シティバンク、エヌ・エイ東京支店）",
      "shareholding_ratio": 2.86,
      "shares_held": 1281000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 8,
      "name": "NORTHERN TRUST CO. (AVFC) RE HCR00 （常任代理人 香港上海銀行東京支店カストディ業務部）",
      "shareholding_ratio": 2.15,
      "shares_held": 961000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 9,
      "name": "BBH FOR FIDELITY PURITAN TR:FIDELITY SR INTRINSIC OPPORTUNITIES FUND (常任代理人 株式会社三菱UFJ銀行 決済事業部）",
      "shareholding_ratio": 1.65,
      "shares_held": 739000
    },
    {
      "FY": "FY19",
      "period": "2019/12",
      "rank": 10,
      "name": "石橋 国人",
      "shareholding_ratio": 1.38,
      "shares_held": 618000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 34.11,
      "shares_held": 15093000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.56,
      "shares_held": 5558000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 3,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 5.06,
      "shares_held": 2238000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 4,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.52,
      "shares_held": 2000000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 5,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 3.15,
      "shares_held": 1395000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 6,
      "name": "株式会社日本カストディ銀行（信託口）",
      "shareholding_ratio": 2.88,
      "shares_held": 1274000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 7,
      "name": "NORTHERN TRUST CO. (AVFC) RE HCR00 （常任代理人 香港上海銀行東京支店カストディ業務部）",
      "shareholding_ratio": 2.47,
      "shares_held": 1096000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 8,
      "name": "BBH FOR FIDELITY PURITAN TR:FIDELITY SR INTRINSIC OPPORTUNITIES FUND (常任代理人 株式会社三菱UFJ銀行 決済事業部）",
      "shareholding_ratio": 1.67,
      "shares_held": 739000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 9,
      "name": "石橋 国人",
      "shareholding_ratio": 1.39,
      "shares_held": 618000
    },
    {
      "FY": "FY20",
      "period": "2020/12",
      "rank": 10,
      "name": "モリヤマ ヒロシ",
      "shareholding_ratio": 1.31,
      "shares_held": 582000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 34.09,
      "shares_held": 15093000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.55,
      "shares_held": 5558000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 3,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 6.27,
      "shares_held": 2778000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 4,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.51,
      "shares_held": 2000000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 5,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 2.76,
      "shares_held": 1225000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 6,
      "name": "株式会社日本カストディ銀行（信託口）",
      "shareholding_ratio": 2.04,
      "shares_held": 905000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 7,
      "name": "株式会社日本カストディ銀行（信託口９）",
      "shareholding_ratio": 1.51,
      "shares_held": 671000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 8,
      "name": "BBH FOR FIDELITY PURITAN TR:FIDELITY SR INTRINSIC OPPORTUNITIES FUND (常任代理人 株式会社三菱UFJ銀行 決済事業部）",
      "shareholding_ratio": 1.41,
      "shares_held": 625000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 9,
      "name": "石橋 国人",
      "shareholding_ratio": 1.39,
      "shares_held": 618000
    },
    {
      "FY": "FY21",
      "period": "2021/12",
      "rank": 10,
      "name": "モリヤマ ヒロシ",
      "shareholding_ratio": 1.31,
      "shares_held": 582000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 34.08,
      "shares_held": 30187000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.55,
      "shares_held": 11117000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 3,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 9.89,
      "shares_held": 8764000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 4,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.51,
      "shares_held": 4000000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 5,
      "name": "株式会社日本カストディ銀行（信託口）",
      "shareholding_ratio": 4.37,
      "shares_held": 3878000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 6,
      "name": "STATE STREET BANK AND TRUST COMPANY 505224 （常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 1.91,
      "shares_held": 1700000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 7,
      "name": "石橋 国人",
      "shareholding_ratio": 1.39,
      "shares_held": 1236000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 8,
      "name": "モリヤマ ヒロシ",
      "shareholding_ratio": 1.31,
      "shares_held": 1164000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 9,
      "name": "フューチャー従業員持株会",
      "shareholding_ratio": 1.19,
      "shares_held": 1062000
    },
    {
      "FY": "FY22",
      "period": "2022/12",
      "rank": 10,
      "name": "ＧＯＶＥＲＮＭＥＮＴ ＯＦ ＮＯＲＷＡＹ （常任代理人 シティバンク、エヌ・エイ東京支店）",
      "shareholding_ratio": 0.77,
      "shares_held": 685000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 34.07,
      "shares_held": 30187000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.55,
      "shares_held": 11117000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 3,
      "name": "日本マスタートラスト信託銀行株式会社（信託口）",
      "shareholding_ratio": 7.75,
      "shares_held": 6871000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 4,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.51,
      "shares_held": 4000000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 5,
      "name": "株式会社日本カストディ銀行（信託口）",
      "shareholding_ratio": 4.15,
      "shares_held": 3676000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 6,
      "name": "野村信託銀行株式会社（投信口）",
      "shareholding_ratio": 2,
      "shares_held": 1780000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 7,
      "name": "石橋 国人",
      "shareholding_ratio": 1.39,
      "shares_held": 1236000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 8,
      "name": "フューチャー従業員持株会",
      "shareholding_ratio": 1.33,
      "shares_held": 1182000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 9,
      "name": "モリヤマ ヒロシ",
      "shareholding_ratio": 1.31,
      "shares_held": 1164000
    },
    {
      "FY": "FY23",
      "period": "2023/12",
      "rank": 10,
      "name": "ＪＰ ＭＯＲＧＡＮ ＣＨＡＳＥ ＢＡＮＫ 385632（常任代理人 株式会社みずほ銀行決済営業部）",
      "shareholding_ratio": 0.94,
      "shares_held": 837000
    },
    {
      "FY": "FY24",
      "period": "2024/12",
      "rank": 1,
      "name": "合同会社キーウェスト・ネットワーク",
      "shareholding_ratio": 34.06,
      "shares_held": 30187000
    },
    {
      "FY": "FY24",
      "period": "2024/12",
      "rank": 2,
      "name": "金丸 恭文",
      "shareholding_ratio": 12.54,
      "shares_held": 11117000
    },
    {
      "FY": "FY24",
      "period": "2024/12",
      "rank": 3,
      "name": "日本マスタートラスト信託銀行株式会社(信託口)",
      "shareholding_ratio": 8.36,
      "shares_held": 7417000
    },
    {
      "FY": "FY24",
      "period": "2024/12",
      "rank": 4,
      "name": "株式会社日本カストディ銀行（信託口）",
      "shareholding_ratio": 4.95,
      "shares_held": 4391000
    },
    {
      "FY": "FY24",
      "period": "2024/12",
      "rank": 5,
      "name": "ＳＧホールディングス株式会社",
      "shareholding_ratio": 4.51,
      "shares_held": 4000000
    },
    {
      "FY": "FY24",
      "period": "2024/12",
      "rank": 6,
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